Explain the difference between calculating simple interest and calculating the interest for a mortgage.
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Explain the difference between calculating simple interest and calculating the interest for a mortgage.
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- What is calculation of Outstanding Mortgage Balance (Repayment of Mortgage)? Please provide example.Explain the difference between conventional mortgages, reverse mortgages, and second mortgages.Give an example of a real estate mortgage and chattel mortgage. What are the obligations being secured by the mortgages?